Engineering.com Incorporated Announces Fourth Quarter & Fiscal 2008 Results

ENGINEERING.com Incorporated (TSX VENTURE:EGN), developer of the ENGINEERING.com
online resource and business for engineers today announced its financial results
for the fourth quarter and year ended December 31, 2008.


ENGINEERING.com revenue was $1,444,768 for the fiscal year 2008, compared to
revenue of $2,214,221 for the year 2007. Revenue for the three months ended
December 31, 2008 was $340,828 compared to $572,273 for the fourth quarter of
2007. The net loss for the year ended December 31, 2008 totaled ($520,253) and
($0.02) per Common Share compared with a net loss of ($217,425) and ($0.01) for
the same period a year ago.


During 2007, the Company had revenues of $1,080,665 from the provision of
services to Rand Worldwide, a former related party while corresponding revenues
for 2008 declined to $279,305. All such transactions were terminated in
September 2008 when Rand Worldwide ceased to be a related party to the Company.


Operating loss (EBITDA) measured as earnings before interest, taxes,
amortization and stock-based compensation, was ($93,830) or $0.00 per Common
Share for the fourth quarter of 2008 compared with a operating profit of $49,036
or $0.00 per Common Share for the three month period ended December 31, 2007.
Operating loss for fiscal 2008 was ($278,935) or ($0.01) per Common Share
compared to an operating profit of $58,804 or $0.00 per Common Share for fiscal
2007. The operating expenses in the latest period were $289,264 and for the year
were $1,228,355 compared to $321,000 for the fourth quarter a year earlier and
$1,412,958 for fiscal 2007.


"During 2008 the company's primary web site experienced a significant increase
in page views and corresponding Internet advertising revenue," said John Hayes,
President of ENGINEERING.com. "Sales gains in advertising and software were more
than offset, however, by a decline in the IT services we provided to Rand
Worldwide."


As at December 31, 2008, the Company had a cash balance of $311,988 compared to
a cash balance of $288,916 as at December 31, 2007.


About ENGINEERING.com Incorporated

ENGINEERING.com Incorporated (TSX VENTURE:EGN) is the developer-owner of the
www.ENGINEERING.com Web site and Internet-based software and business.
ENGINEERING.com offers hosted and deployed engineering software and services to
manufacturers, design consultants and engineering academia around the world. The
ENGINEERING.com Incorporated head office is located in Mississauga, Ontario,
Canada and can be reached toll-free at 1-877-997-9917, by facsimile at
905-273-6691 or through the Internet at www.ENGINEERING.com.


EBITDA

EBITDA is defined by the Company as operating income before interest expense,
income taxes, amortization, stock-based compensation, asset dispositions and
provision for discontinued operations. The Company has included information
concerning EBITDA because it believes that EBITDA is used by certain investors
as one measure of the Company's financial performance. EBITDA is not a measure
of financial performance under Canadian generally accepted accounting principles
and is not necessarily comparable to similarly titled measures used by other
companies. EBITDA should not be construed as an alternative to operating income
or to cash flows from operating activities (as determined in accordance with
Canadian generally accepted accounting principles) as a measure of liquidity.


Forward Looking Statements

This press release may contain forward-looking statements based on management's
current projections, beliefs and opinions at the date of this press release.
Actual results could differ materially from those anticipated in these
statements. The Company's ability to continue as a going concern is dependent
upon its ability to generate future profitable operations and/or to obtain the
necessary financing to meet its obligations and repay its liabilities arising
from normal business operations when they come due. ENGINEERING.com Incorporated
undertakes no responsibility to update forward-looking statements if
circumstances or management's projections, beliefs or opinions change.


The contents of this News Release have been reviewed and approved by the Audit
Committee and the Board of Directors.




ENGINEERING.com Incorporated
Balance Sheets

(Cdn. $)

                                                    (audited)      (audited)
                                                       As at          As at
                                               Dec. 31, 2008  Dec. 31, 2007
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ASSETS
Current Assets
 Cash                                                311,988        288,916
 Accounts Receivable                                 189,109        146,063
 Prepaid Expenses and Deposits                        29,707         58,044
 Due from Related Parties                                  -        330,557
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  Total Current Assets                               530,804        823,580

 Property and Equipment, net                          29,865         29,567
 Intangible Assets, net                              591,528        770,063
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  TOTAL ASSETS                                     1,152,197      1,623,210
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LIABILITIES AND SHAREHOLDERS' EQUITY
LIABILITIES
Current Liabilities
 Accounts Payable and Accrued Liabilities            787,594        768,878
 Deferred Revenue                                     84,247         70,745
 Promissory Note - Short-term                         58,464         47,582
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  Total Current Liabilities                          930,305        887,205

 Promissory Note - Long Term                          28,971         69,179

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 TOTAL LIABILITIES                                   959,276        956,384
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SHAREHOLDERS' EQUITY
 Share Capital                                    14,759,008     14,759,008
 Contributed Surplus                                 392,411        346,063
 Deficit                                         (14,958,498)   (14,438,245)
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  TOTAL SHAREHOLDERS' EQUITY                         192,921        666,826
----------------------------------------------------------------------------

----------------------------------------------------------------------------
  TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY       1,152,197      1,623,210
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ENGINEERING.com Incorporated
Statements of Income

(Cdn. $)            (unaudited)    (unaudited)      (audited)      (audited)
                  Three Months   Three Months           Year           Year
                         Ended          Ended          Ended          Ended
                 Dec. 31, 2008  Dec. 31, 2007  Dec. 31, 2008  Dec. 31, 2007
----------------------------------------------------------------------------
Revenue                340,828        572,273      1,444,768      2,214,221
Cost of Sales          145,394        202,237        495,348        742,459
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GROSS PROFIT           195,434        370,036        949,420      1,471,762
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Expenses
 Salaries &
  Benefits             163,579        152,057        643,082        727,687
 Marketing
  Expenses              10,946          6,302         38,556         24,352
 Development
  Costs                 72,212         58,197        233,187        238,126
 General &
  Administrative        42,527        104,444        313,530        422,793
----------------------------------------------------------------------------
                       289,264        321,000      1,228,355      1,412,958
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Operating
 Income/(Loss)
 before
 Under-noted Items:    (93,830)        49,036       (278,935)        58,804
 Stock Based
  Compensation           3,444        (13,348)       (46,348)       (77,749)
 Amortization
  Expense              (48,970)       (48,405)      (194,970)      (198,480)
----------------------------------------------------------------------------

Net Loss              (139,356)       (12,717)      (520,253)      (217,425)

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Basic and
 Diluted
 (Loss) per Share        (0.00)         (0.00)         (0.02)         (0.01)

Weighted Average
 Number of Common
 Shares 
 (basic and
 diluted)           29,496,499     29,496,499     29,496,499     29,496,499
----------------------------------------------------------------------------

Consolidated
 Statements of
 Deficit
----------------------------------------------------------------------------
 Deficit,
  beginning
  of period        (14,819,142)   (14,425,529)   (14,438,245)   (14,220,820)
----------------------------------------------------------------------------
 Net Income (Loss)    (139,356)       (12,717)      (520,253)      (217,425)
 Deficit, end of
  period           (14,958,498)   (14,438,245)   (14,958,498)   (14,438,245)
----------------------------------------------------------------------------
----------------------------------------------------------------------------



ENGINEERING.com Incorporated
Cash Flow Statements

(Cdn. $)

                    (unaudited)    (unaudited)      (audited)      (audited)
                  Three Months   Three Months           Year           Year
                         Ended          Ended          Ended          Ended
                 Dec. 31, 2008  Dec. 31, 2007  Dec. 31, 2008  Dec. 31, 2007
----------------------------------------------------------------------------

OPERATING
 ACTIVITIES
 Net Loss             (139,356)       (12,717)      (520,253)      (217,425)
  ADD - Items Not
   Affecting Cash
   Stock Based
    Compensation        (3,444)        13,348         46,348         77,749
   Amortization         48,970         48,404        194,970        198,480
 Changes in
  operating assets
  and liabilities
  other than cash      126,119         69,613        348,066        259,948

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  CASH FROM
   OPERATING
   ACTIVITIES           32,289        118,648         69,131        318,752
----------------------------------------------------------------------------

FINANCING
 ACTIVITIES

   Promissory Notes     (1,730)       (11,355)       (29,326)      (199,814)

----------------------------------------------------------------------------
  CASH FROM
   FINANCING
   ACTIVITIES           (1,730)       (11,355)       (29,326)      (199,814)
----------------------------------------------------------------------------

INVESTING
 ACTIVITIES
 Additions to
  Property and
  Equipment               (446)        (1,899)       (16,733)       (17,212)

----------------------------------------------------------------------------
  CASH FROM
   INVESTING
   ACTIVITIES             (446)        (1,899)       (16,733)       (17,212)
----------------------------------------------------------------------------

Net Increase
 (Decrease) in Cash     30,113        105,394         23,072        101,726

CASH, beginning
 of period             281,875        183,522        288,916        187,190
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CASH, end of period    311,988        288,916        311,988        288,916
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